The total of assets under management in Hong Kong has hit record high as global capital flows accelerate
Hong Kong has reinforced its position as one of the world’s leading asset and wealth management centres, with assets under management (AUM) climbing to a record HK$42.2 trillion (US$5.4 trillion) in 2025, according to new figures released by the territory’s Securities and Futures Commission (SFC).
The 20 percent year-on-year increase surpassed the previous record of HK$35.5 trillion set in 2021 and was underpinned by a sharp rise in investor inflows, strong performance across wealth management businesses and continued demand for Hong Kong-based investment products.
Net fund inflows surged 193 percent during the year to HK$2.1 trillion (US$265 billion), marking the third consecutive year of positive growth and signalling renewed investor confidence despite ongoing geopolitical tensions and a challenging global economic backdrop.
Traditional asset management and fund advisory operations remained the largest segment of the industry, with assets increasing 19 percent to HK$31 trillion (US$4 trillion). Private banking and wealth management recorded even stronger growth, with assets rising 24 percent to HK$12.9 trillion (US$1.7 trillion).
The figures also highlight continued momentum for Hong Kong-domiciled investment funds. Assets in SFC-authorised funds increased 38 percent during 2025 to HK$2.3 trillion (US$292 billion), before rising to HK$2.6 trillion (US$330 billion) by the end of May 2026.
Investor demand has remained strong. Net inflows into locally domiciled funds more than doubled to HK$357 billion during 2025, with a further HK$118 billion added during the first five months of 2026.
The data suggests Hong Kong continues to attract a globally diversified investor base rather than relying primarily on domestic or mainland Chinese capital. More than 54 percent of assets under management originated from investors outside Hong Kong and mainland China, reinforcing the city’s role as an international investment gateway.
Institutional investors continue to dominate the market, reflecting Hong Kong’s importance as a regional centre for pension funds, sovereign wealth funds, insurance companies and other professional investors seeking international asset allocation.
The survey also points to a gradual shift in investment strategy as asset managers diversify beyond traditional equity portfolios. Managers allocated 56 percent of assets to investments outside Hong Kong and mainland China during 2025, while bond investments recorded double-digit growth for a second consecutive year.
Over the past five years, non-equity assets have expanded their share of total portfolios by seven percentage points to 58 per cent, highlighting a broader move towards diversification and fixed-income strategies amid heightened market volatility and changing interest-rate conditions.
Hong Kong’s performance is broadly consistent with international industry research. Boston Consulting Group’s Global Wealth Report 2026 ranked the city as the world’s largest cross-border wealth management centre, with approximately US$2.9 trillion in cross-border assets.
SFC Executive Director of Investment Products Elisa Ng said the latest figures reflected investor confidence in Hong Kong’s financial markets despite global economic uncertainty. She said the regulator would continue pursuing reforms designed to strengthen the city’s competitiveness as an international financial centre while expanding its role as the leading offshore renminbi hub.
The latest survey suggests Hong Kong’s asset management industry has not only recovered from recent market disruptions but is continuing to expand its international footprint. Whether that momentum can be sustained will depend on global market conditions, continued capital inflows and the territory’s ability to maintain its competitive position against other international financial centres, including Singapore and Dubai.
